Fiscal Abyss

I am getting real tired of all this "Fiscal Cliff" stuff.  Our leaders refuse to lead.  These same leaders refuse to be completely honest and truthful with the American public.  We, as a Nation, have been running fiscal deficits of at least $1.2 trillion for each of the past four years.  We have a spending problem.  No one is addressing that issue in specific terms of what programs will be cut.  Oh, I know they are saying that we are specific in that we are "cutting the growth rate of spending."  First, if you are cutting the growth rate of spending, you are still spending "MORE!"  The growth rate in spending must "decrease," not simply slow down.  Second, spell out in details the specific cuts in government spending.  In other words, our government brings in approximately $2.5 trillion, but it spends $3.8 trillion.  Therefore, if the rate of growth of spending slows, it will still spend more than $3.8 trillion in 2013.  Oh, but you say that over the next ten years the government will raise an additional $1 trillion in new revenue through higher taxes.  That is true.  Mission accomplish, not!  That $1 trillion in additional revenue over ten years amounts to $100 billion a year.  However, our federal deficit of $1.2 trillion will likely stay the same over this time period.  So, instead of a $1.2 trillion federal deficit, our federal deficit will be "only" $1.1 trillion per year.  Therefore, over the next ten years our national debt will increase by another $11 trillion to $27 trillion. 

Folks, the "Great Recession" that started in 2008 will turn into the "Great Depression" by 2016, because our leaders in Washington, D.C. refuse to do their job.  I am confident in making such a  statement with each passing day that Washington refuses to tell the truth that we, as a Nation, must live within our budget.